Consolidated figures
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 9.2% | 10.7% | 7.5% | 4.4% | 8.7% |
| EBITDA margin % | 6.1% | 6.7% | 5.6% | 0.4% | -2.3% |
| EBIT margin % | 5.9% | 6.5% | 5.3% | -0.8% | -4.4% |
| PAT margin % | 6% | 5.7% | 5.3% | 3.6% | -1% |
| Working capital | |||||
| Receivable days | 23 | 93 | 171 | 56 | 66 |
| Inventory days | 10 | 75 | 56 | 102 | 289 |
| Payable days | 35 | 44 | 109 | 36 | 113 |
| NWC days | -2 | 123 | 119 | 122 | 242 |
| Leverage | |||||
| Current ratio | 1.17 | 1.85 | 2.55 | 2.96 | 2.75 |
| Debt to EBITDA | 7.5 | 6.09 | 3.64 | 0 | — |
| Debt to equity | 4.27 | 0.9 | 0.26 | 0 | 0 |
| Interest coverage | 7.7 | 4.3 | 4.2 | 6.5 | 3.8 |
| Asset turnover | 1.17 | 1.03 | 0.77 | 0.57 | 0.35 |
| Return ratios | |||||
| Return on assets % | 7% | 5.9% | 4.1% | 2% | -0.4% |
| Return on capital employed % | 56.4% | 30.6% | 14.4% | 5.6% | 0.9% |
| Return on equity % | 55.8% | 12.6% | 6.7% | 2.8% | -0.5% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.